Iceland's President Elected for Record 5th Term

By

ANNA ANDERSEN

July 1, 2012 9:31 a.m. ET

REYKJAVIK, Iceland— Iceland's President Olafur Ragnar Grimsson, who wielded the political power of his traditionally ceremonial office and rejected a deal that would have put taxpayers on the hook for $5 billion to Britain and the Netherlands, has been elected to a fifth term.

The vote makes him the longest-serving president in Icelandic history. Heavily criticized after the financial crisis for cheerleading the overheated...